Full Truck Alliance (NYSE:YMM) Shares Gap Down – Should You Sell?

Full Truck Alliance Co. Ltd. (NYSE:YMM) gapped down prior to trading on Wednesday . The stock had previously closed at $11.92, but opened at $11.50. Full Truck Alliance shares last traded at $11.64, with a volume of 1,218,346 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays decreased their target price on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Citigroup increased their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.00 in a research note on Wednesday.

Full Truck Alliance Trading Down 2.2 %

The firm has a 50 day moving average price of $9.47 and a 200-day moving average price of $8.53. The firm has a market cap of $11.85 billion, a PE ratio of 26.79 and a beta of 0.28.

Hedge Funds Weigh In On Full Truck Alliance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Atomi Financial Group Inc. boosted its position in shares of Full Truck Alliance by 12.4% during the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after acquiring an additional 1,329 shares in the last quarter. Geode Capital Management LLC lifted its stake in Full Truck Alliance by 3.7% during the third quarter. Geode Capital Management LLC now owns 118,404 shares of the company’s stock worth $1,067,000 after purchasing an additional 4,235 shares during the last quarter. Tobam acquired a new position in Full Truck Alliance in the second quarter valued at approximately $35,000. Blue Trust Inc. purchased a new position in Full Truck Alliance in the second quarter valued at approximately $38,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Full Truck Alliance by 1.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 545,517 shares of the company’s stock worth $4,910,000 after purchasing an additional 5,660 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.